Interest on debentures specified for withholding treatment when issued by notified institutions, public sector companies or co-operative societies. The proviso to section 193 is amended by substituting clause (iib) to treat interest on debentures issued by institutions, authorities, public sector ... Summary
Interest on debentures specified for withholding treatment when issued by notified institutions, public sector companies or co-operative societies.
The proviso to section 193 is amended by substituting clause (iib) to treat interest on debentures issued by institutions, authorities, public sector companies, and co-operative societies as covered, with the Central Government empowered to specify such issuers by notification; an explanation defines public sector company to include corporations under Central, State or Provincial Acts and Government companies as per the Companies Act, 1956.
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